Moderna stock was rallying after a big earnings beat.
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Moderna stock was jumping after the maker of a Covid-19 vaccine’s earnings crushed analyst estimates.
Moderna reported a profit of $8.58 a share, easily topping analyst estimates for a profit of $5.37, on revenue of $6 billion, trouncing forecasts for $4.204 billion.
“The Moderna team delivered a strong Q1 performance and I am thankful for the progress our team continues to make as we advance our pipeline of mRNA medicines,” Moderna CEO Stéphane Bancel said in a press release.
Moderna stock has gained 5.3% in premarket trading Wednesday morning. Its shares have fallen 42% in 2022, more than three times the S&P 500’s 12% decline.
Moderna recently said it would have its Covid vaccine for children under the age of six ready for FDA review by June.
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